Hang Lung raises funds for development projects in China

Mixed day for the primary markets as Hang Lung takes advantage of strong momentum and China Guofeng drops IPO.

Hong Kong property developer Hang Lung Properties made an opportunistic trade in the Asian equity markets yesterday November 29 raising HK$4.44 billion $570 million from an increased top up placement via Credit Suisse First Boston. The deal appeared incredibly well timed, coming on the back of a big upswing in property stocks and market liquidity.

Where the former is concerned, HLP is up 29% year-to-date, outpacing the Hang Seng Index, currently up a far more modest 12%. It has also come in a week when huge liquidity is building up ahead of big IPO's for Air China and the Link Reit, which have not yet opened their books and...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222